HDFC Asset Management Company’s initial pubic offering (IPO) opens for subscription from today, July 25.

The offer comprises a net offer to the public of up to 2,21,77,555 equity shares, a reservation of up to 3,20,000 shares for purchase by the eligible HDFC AMC Employees, a reservation of up to 5,60,000 shares for purchase by the HDFC employees and a reservation of up to 24,00,000 shares for purchase by HDFC shareholders.

The price band for the offer is fixed at Rs.1,095-1,100 per share. Bids can be made for a minimum lot of 13 equity shares and in multiples of 13 equity shares thereafter. HDFC AMC aims to raise Rs.2,787.6 crore at lower end of price band and Rs.2,800.33 crore at higher price band. Further, the issue will close for subscription on July 27.

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